G.H.Y Culture & Media enters theme park joint ventures with iQIYI in China

• G.H.Y. Culture & Media entered joint venture agreements with iQIYI to set up two theme park operators in China under its online-to-offline strategy.
• Beijing JV: registered capital RMB 65 million; Beijing Changxin to subscribe RMB 6.5 million for a 10% stake; iQIYI Chuangxiang holds 67.38%.
• Kaifeng JV: registered capital RMB 15 million; Beijing Changxin to subscribe RMB 1.5 million for a 10% stake; iQIYI Chuangxiang holds 70.1%.
• First RMB 650,000 capital tranche for the Beijing JV was paid on April 20; remaining contributions to follow agreed schedules.
• Transaction not expected to materially affect earnings per share or net tangible assets per share for FY2026.

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